Bankruptcy is more misunderstood than any other financial or legal tool available to consumers. Ask yourself a few simple questions:
If you answered yes to any of these questions then you owe it to yourself to talk to a bankruptcy attorney regarding whether you should file bankruptcy. The United States Bankruptcy Codes offer relief to those that qualify. If your debt load has reached the point where you are now working for the debt settlement company, bankruptcy can help you get a "fresh start."
The bankruptcy process should always begin with speaking with a qualified bankruptcy attorney. Our bankruptcy attorneys:
Once you have discussed your case with a qualified bankruptcy attorney, you need to decide if a Chapter 7 or a Chapter 13 is best for you. If you have unsecured debt (like credit cards) that is overwhelming you, secured debt (like a home mortgage or car loans) that is current, and you meet the Chapter 7 means test, then a Chapter 7 bankruptcy may offer you the relief you need. A Chapter 7 bankruptcy may allow you to obtain a discharge on your unsecured debts and reaffirm all secured debts you wish to keep.
If your main reason for filing bankruptcy is to save a home or car, or if you make too much money to file a Chapter 7 bankruptcy, then a Chapter 13 bankruptcy may be the answer you need. A Chapter 13 bankruptcy both stops foreclosures and puts you in control of catching-up with your mortgage. A Chapter 13 bankruptcy includes a three or five year plan that gives you the time you need to catch up on your secured debt arrearages.
The United States Bankruptcy Codes offer you protection. Once a case is filed an automatic stay immediately takes effect. This is a temporary injunction stopping all collection actions or attempts against you. The automatic stay will immediately stop foreclosures, repossessions, court actions, and collection attempts. Violations of the automatic stay are taken very seriously. Violations of the automatic stay may be acted on by your attorney often resulting in damages paid to you. Once a debtor has received a discharge the automatic stay becomes a permanent injunction against any collections of the discharged debt. This all means freedom for you!
Additionally, there are many other protections offered by the United States Bankruptcy Laws and other consumer related laws that can be used by your attorney to offer you relief. Sign up for a free bankruptcy attorney consultation to have all you questions answered.